THORChain is a decentralized network that has liquidity pools on its platform, enabling trading of cryptocurrencies with one-click swap. It allows switching between blockchains. It can work on all blockchain networks and all cryptocurrencies. While other decentralized cryptocurrency exchanges only work on Ethereum, Binance Smart Chain or any other network, THORChain dex can integrate with any network. Transactions on the network are paid in RUNE. RUNE is a token issued on the BEP2 network.
THORChain has a market value of 2 billion 50 million dollars. It is the 61nd most valuable cryptocurrency by market cap. While there are 224,410,215.14 RUNEs in circulation, the total supply is 500,000,000 RUNE. In the ICO process, which was completed on June 20, 2019, a total of 1 million 520 thousand dollars was invested.
The THORChain ecosystem includes many platforms, mainly THORNodes, Asgardex, BEPSwap, Midgard. The network is written with the Cosmos Software Development Kit, it is based on Tedermint. The Threshold Signature Plans (TSS) used ensure that when transacting on the network, you are not tied to a centralized organization, a structure that consciously or selectively approves or rejects transactions. The scalability of the network does not reduce the security level of the network. There is no need to change the order book during swap, on-chain price feeds and manipulation resistance make things easier for users in the network.
THORChain uses the proof-of-stake protocol. Providing liquidity by staking RUNE, swap transactions, cross-wallet transactions, connecting nodes are done within this algorithm. The core of the network is ThorNode. Node operators secure the platform and provide collateral, for which they get paid. Direct conversion, that is, swap, is applied between cryptocurrencies. Liquidity pools are used to simplify swap transactions. Investors pay and profit from the balance of the pools. Staking is also done to create liquidity pools. A RUNE must also be staked for each cryptocurrency provided to the pools. The fees for swap transactions are divided according to the size of their holdings to the investors who stake their assets. In problematic transactions on the network, the tokens staked by the people who make the transaction are burned by the validators of the network, thus preventing attacks on the network.
THORChain's site has a detailed guide for running a node with up to 16% APY while directing it to the Discord channel to create pool assets with up to 129% APY.
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